Singapore’s Lion Global Investors, which manages about S$29 billion ($24 billion), said on Thursday, July 15, it was turning bullish on Indian stocks and Wednesday’s bomb attacks in the country’s financial capital would not change its view.
Property prices in seven cities across India dropped by 2.63 per cent to 17.6 per cent during the January to March quarter, according to the latest data released by the National Housing Bank.
India’s top listed real estate developer DLF Ltd missed analysts’ estimates with a 19 percent fall in quarterly profit due to cost rises.
The Bombay Stock Exchange on Monday said that it has excluded Indiabulls Real Estate Ltd from both the BSE 100 and BSE 200 indices and replaced it with Coal India.
India’s housing shortfall is estimated to be around 27 million and Chennai city alone faces a deficit of 60,000 housing units.
Interest rate rises are beginning to bite in India, and housing markets in major cities weakened in 2010, says a report by the Global Property Guide.
This week has been a good one for investors in real estate shares, who had seen their investments lose 30%-55% in value over the past six months in the wake of a number of corruption allegations involving the sector.
India has the third highest taxation burden in the world when it comes to selling commercial property, after Norway and Malta, according to a study conducted by Taxand, an independent global tax advisory.
8 out of every ten home buyers in the Indian cities are sulking with the unfair trade practices of the real estate developers. Only 20 per cent of the buyers said they received a defect-free home and timely possession. The low customer satisfaction index was as much evident with developers offering affordable housing as with luxury housing.